EU regulators report 771 AML violations at 256 FIs on the EBA’s EuReCA database in 2024, highlighting RegTech failures

The European Banking Authority published its final review on competent authorities’ efforts to combat ML/TF in the banking sector. While significant progress has been made since 2018 weaknesses remain in risk assessment and enforcement processes. The EBA emphasized the importance of cooperation and consistent approaches across jurisdictions. A final review in 2025 will evaluate the effectiveness of actions taken by authorities…